BofA (BAC) loses 24 cents to $4.96 and is dipping below $5 per share for the first time since March 2009. The top options trades on the bank today: Feb 4 – Jan 6 strangle at 20 cents, 24000X. It might be a closing trade and/or perhaps a bet that shares will hold around these levels (between $4 and $6), in the weeks ahead.

*Scanning all single-stocks subject to 2500 contracts minimum call or put volume

Lender Processing Services (LPS) has added 27 cents to $14.27 and attempting to stabilize after the 17.5 percent loss suffered Friday after the Nevada AG filed a lawsuit against the company for customer fraud. Early options trades on the stock include a 6000-contract block of Jun 21 calls bought for 75 cents per contract. Looks opening. 6,486 now traded against 10 contracts in open interest. Implied vols are up another 2 percent to 70.

*Scanning all single-stocks subject to 2500 contracts minimum call or put volume

Research In Motion’s (RIMM) woes continue. After falling 11.2 percent to multi-year lows of $13.44 Friday, shares are down another 8 cents to $13.36 amid active trading in the options on the Blackberry-maker. 34,000 calls and 12,000 puts traded in RIM during the first forty-five minutes of Monday’s session. The top trades look like a possible contrary play, as one strategist bought 5,800 Mar 17.5 calls on the stock and 5,800 Jun 19 calls, paying $1.60 for the call “stupid” spread and possibly closing a position, as both contracts are falling further out-of-the-money and open interest is sufficient to cover.